- Hani Berzi's 44.07 stake in Edita Food Industries has lost 11.6 million, dropping from 197 million to 185.4 million.
- Editas stock fell 5.91 in two weeks, reducing its market capitalization to below 425 million on the Egyptian Exchange.
- Editas 40.45 decline in dollar terms reflects broader market struggles, impacted by Egypt's currency depreciation and economic instability.
Egyptian businessman Hani Berzi, chairman and managing director of Edita Food Industries, has faced a substantial financial setback as his 44.07 percent stake in the packaged snack giant saw a sharp 11.6 million decline in value.
This drop comes as shares of Edita tumbled on the Egyptian Exchange EGX, further highlighting the challenges facing Egypts business elite amid a volatile economic landscape.
Through Quantum Invest BV, Berzi owns over 308.5 million shares of the company, which produces iconic products such as croissants, cakes, and wafers.
His stake, valued at 197 million just two weeks ago, now hovers at 185.4 milliona reversal after a brief surge in October added nearly 17 million to his holdings
Edita's market cap falls below 425 millionDespite Edita's leading position in Egypts packaged snack market, its shares on the EGX have slipped into year-to-date losses.
